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The Minnesota Durable Power of Attorney form is a crucial legal document that allows individuals to appoint someone they trust to make decisions on their behalf when they are unable to do so themselves. This form empowers the designated agent, often referred to as the attorney-in-fact, to handle various financial and legal matters, ensuring that the principal’s interests are protected even in times of incapacity. It remains effective even if the principal becomes incapacitated, distinguishing it from a standard power of attorney. Key elements of the form include the identification of the principal and agent, a clear statement of the powers granted, and any limitations or specific instructions the principal wishes to impose. Additionally, the form requires signatures from both the principal and a notary public, ensuring its legality and enforceability. Understanding the nuances of this document is essential for anyone looking to secure their financial future and ensure their wishes are honored during challenging times.

Form Example

Minnesota Durable Power of Attorney

This Durable Power of Attorney is established on this day, __________ (date), by __________________ (Principal's Full Name), residing at ________________________________________ (Principal's full address), herein referred to as the Principal, decides to appoint __________________________________ (Agent's Full Name), residing at ________________________________________ (Agent's Address), herein referred to as the Agent, the durable power of attorney in accordance with the Minnesota Statutory Short Form Power of Attorney Act (Minnesota Statutes, Section 523.23) and any amendments thereto.

The Principal hereby appoints the Agent with full power and authority to act in the Principal’s behalf. This authority shall become effective immediately and shall remain in effect indefinitely, unless otherwise specified by the Principal, even in the event of the Principal’s subsequent disability or incapacity.

The powers granted to the Agent include, but are not limited to, the following actions on behalf of the Principal:

  • To conduct any and all types of banking transactions.
  • To buy or sell real estate.
  • To file tax returns and deal with all matters related to taxes.
  • To engage in investment transactions.
  • To claim, litigate and receive funds, including but not limited to government and retirement benefits.
  • To conduct business transactions and operations.
  • To make health care decisions, if specifically granted.

The Agent agrees to act in the Principal’s best interest, in good faith and within the bounds of the authority granted by this document.

This Durable Power of Attorney shall remain in effect until it is revoked by the Principal or until the Principal’s death. The Principal may revoke this Durable Power of Attorney at any time by providing written notice to the Agent.

Signature of Principal: ___________________________ Date: __________

Signature of Agent: _____________________________ Date: __________

State of Minnesota

County of ___________

On this day, __________ (date), before me, ____________________ (Notary's full name), a Notary Public in and for said County and State, personally appeared __________________ (Principal's Full Name), known to me or proved to me on the oath of ____________________ (Name of Credible Witness, if any) or through ____________________ (Type of Identification), to be the person whose name is subscribed to the within instrument and acknowledged that they executed the same for the purposes therein contained.

Witness my hand and official seal,

Signature of Notary Public: ___________________________ Date: __________

My commission expires: ______________

➤ Durable Power of Attorney File

File Specs

Fact Name Description
Definition The Minnesota Durable Power of Attorney form allows an individual (the principal) to designate another person (the agent) to manage their financial affairs.
Durability This form remains effective even if the principal becomes incapacitated, unlike a regular power of attorney.
Governing Law The form is governed by Minnesota Statutes, Chapter 523.23, which outlines the rules and requirements for durable powers of attorney.
Agent's Authority The agent can perform various financial tasks, such as paying bills, managing investments, and filing taxes on behalf of the principal.
Revocation The principal can revoke the durable power of attorney at any time, as long as they are mentally competent.
Witness Requirements In Minnesota, the form must be signed in the presence of at least one witness or a notary public to be valid.
Limitations While the agent has broad powers, certain actions, such as making healthcare decisions, require a separate document.
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